Year: 2020

The analysts covering Chembio Diagnostics, Inc. (NASDAQ:CEMI) delivered a dose of negativity to shareholders today, by… …read more […]

(Bloomberg) — Walgreens Boots Alliance Inc. reported worse-than-expected results for the third quarter, saying it plans to cut 4,000 jobs and suspend share buybacks as it wrestles with the effects of the coronavirus pandemic on it business.The drugstore giant posted a loss of $1.71 billion, or $1.95 a share. On an adjusted basis, earnings per share came to 83 cents. Analysts surveyed by Bloomberg expected adjusted earnings of $1.19 a share.Key InsightsDrugstores are seeing rapid shifts in U.S. consumer behavior driven by Covid-19. People rushed to stock up on prescriptions and toilet paper in March. Sales were essentially flat compared …read more […]

Costco’s (COST) comparable sales rose 11.5% in June fueled by e-commerce revenue growth.Analysts had estimated an advance of about 4.2% in comparable sales for the five weeks ended July 5. E-commerce sales were up almost 86% during the reported period. On a geographical breakdown comparable sales advanced 11% in the U.S., 8.4% in Canada, and 18% in other global markets.In the 44 weeks ended July 5, the food retail chain reported net sales of $136.37 billion, an increase of 8.1% year-on-year. Costco had in recent months suffered from a sales drop as stay-at-home orders and social distancing restrictions have led …read more […]

AstraZeneca Plc (AZN) announced on Thursday that the Food and Drug Administration (FDA) has accepted a supplemental New Drug Application (sNDA) and granted a priority review for its heart treatment Brilinta.The U.S. regulator granted priority review for the drugmaker’s Brilinta (ticagrelor) as a treatment for the reduction of subsequent stroke in patients who experienced an acute ischemic stroke or transient ischemic attack (TIA). The FDA action date for the supplemental application, is scheduled for the fourth quarter of 2020.The sNDA was based on results from the Phase III THALES trial, which showed that the treatment of aspirin in combination with …read more […]

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German state prosecutors are investigating Wirecard for suspected money laundering, a spokeswoman for the Munich prosecutor’s office said on Thursday. “We are investigating suspected money laundering,” the spokeswoman told Reuters, saying the inquiry was directed at individuals from Wirecard. Wirecard declined to comment. …read more […]

Aston Martin’s first sport utility vehicle rolled off the production line on Thursday, key to hopes of a turnaround at the luxury carmaker which has seen changes in management and ownership over the last few months amid a torrid performance. Popular for being James Bond’s carmaker of choice, the firm has had a difficult time since it floated in 2018 as sales disappointed and it burnt through cash, prompting it to seek fresh investment from billionaire Lawrence Stroll. The DBX vehicle is the company’s first foray into the lucrative sport utility vehicle market, a late entrant compared …read more […]

Top news and what to watch in the markets on Thursday, July 9, 2020. …read more […]

Investors who take an interest in BELLUS Health Inc. (TSE:BLU) should definitely note that the Chairman of the Board… …read more […]

Biogen Inc. (BIIB) announced that it has finally submitted the Biologics License Application (BLA) seeking approval by the Food and Drug Administration (FDA) for aducanumab, its investigational treatment for Alzheimer’s disease.If approved, aducanumab would become the first therapy to reduce the clinical decline of Alzheimer’s disease, the company said. The FDA application submission had been delayed since early 2020. Aducanumab is a human monoclonal antibody designed to treat early Alzheimer’s disease.Biogen said that the completed submission followed ongoing collaboration with the FDA and includes clinical data from the Phase 3 studies, as well as the Phase 1b study.“Alzheimer’s disease remains …read more […]

Jul.09 — Siemens AG Chief Executive Officer Joe Kaeser says the proposed spinoff of an energy business is the best way to refocus and boost the company’s share price. Kaeser said he expects investors at a virtual meeting today in Munich to back the separation of Siemens Energy, which makes turbines for power plants and wind farms. He spoke on “Bloomberg Markets: European Open.” …read more […]

Gilead Sciences Inc plans to make more of its drug remdesivir available for Germany and Europe from autumn and will decide how much each country gets based on the rate of infection, the drugmaker’s Germany boss told a German magazine. Bettina Bauer, managing director of Gilead in Germany, told WirtschaftsWoche the U.S. drugmaker can increase its worldwide monthly production from currently 190,000 treatment cycles to 2 million treatment cycles in December. …read more […]

(Bloomberg) — Gold prices could be set to take out their long-standing record as mounting concerns about the global economy fuel gains above $1,800 an ounce.Spot bullion extended its advance into a sixth day as the resurgence of the coronavirus in some parts of the world adds to concerns about a protracted global downturn. Demand for havens has surged, with inflows into gold-backed exchange-traded funds this year already topping the record full-year total set more than a decade ago, and some market watchers are forecasting prices could hit all-time highs as the health crisis drags on.Even after governments and central …read more […]

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(Bloomberg) — Elon Musk’s Tesla Inc. is “very close” to developing fully autonomous vehicles and could work out the basics of that technology as soon as this year, he said in a prerecorded video played during the World AI Conference in Shanghai.Musk reiterated that the electric vehicle maker has solved most of the essential challenges toward achieving Level 5 autonomy, or a fully self-driven automobile that needs no human behind the wheel. The Tesla and SpaceX chief was reaffirming a goal first expressed in 2019.“I’m confident that we will have the basic functionality of L5 autonomous driving this year,” Musk …read more […]